Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3033The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2022-07-01falsefalsetruetrue SC353348 2022-06-30 SC353348 2022-07-01 2023-06-30 SC353348 2021-07-01 2022-06-30 SC353348 2023-06-30 SC353348 c:CompanySecretary1 2022-07-01 2023-06-30 SC353348 c:Director1 2022-07-01 2023-06-30 SC353348 c:Director2 2022-07-01 2023-06-30 SC353348 c:Director3 2022-07-01 2023-06-30 SC353348 c:RegisteredOffice 2022-07-01 2023-06-30 SC353348 d:FreeholdInvestmentProperty 2023-06-30 SC353348 d:FreeholdInvestmentProperty 2022-06-30 SC353348 d:CurrentFinancialInstruments 2023-06-30 SC353348 d:CurrentFinancialInstruments 2022-06-30 SC353348 d:Non-currentFinancialInstruments 2023-06-30 SC353348 d:Non-currentFinancialInstruments 2022-06-30 SC353348 c:OrdinaryShareClass1 2022-07-01 2023-06-30 SC353348 c:OrdinaryShareClass1 2023-06-30 SC353348 c:FRS102 2022-07-01 2023-06-30 SC353348 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC353348 c:FullAccounts 2022-07-01 2023-06-30 SC353348 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC353348 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC353348










UNION STREET INVESTMENTS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
UNION STREET INVESTMENTS LTD
 

COMPANY INFORMATION


Directors
D.J. Souter 
J.K. Kerr 
D.R. Souter 




Company secretary
Thorntons Law LLP



Registered number
SC353348



Registered office
Whitehall House
33 Yeaman Shore

Dundee

DD1 4BJ




Trading Address
26 Foundry Lane

Dundee

DD4 6AY






Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
UNION STREET INVESTMENTS LTD
REGISTERED NUMBER: SC353348

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
£
£

  

Fixed assets
  

Investment property
 5 
1,860,000
1,860,000

  
1,860,000
1,860,000

Current assets
  

Debtors
 6 
1,497,681
1,517,783

Cash at bank and in hand
  
1,085
13,427

  
1,498,766
1,531,210

Creditors: amounts falling due within one year
 7 
(443,048)
(493,552)

Net current assets
  
 
 
1,055,718
 
 
1,037,658

Total assets less current liabilities
  
2,915,718
2,897,658

  

Creditors: amounts falling due after more than one year
 8 
(1,052,135)
(1,053,289)

  
1,863,583
1,844,369

Provisions for liabilities
  

Deferred taxation
  
(316,200)
(316,200)

  
 
 
(316,200)
 
 
(316,200)

  

Net assets excluding pension asset
  
1,547,383
1,528,169

Net assets
  
1,547,383
1,528,169


Capital and reserves
  

Called up share capital 
 9 
3
3

Revaluation reserve
  
1,543,800
1,543,800

Profit and loss account
  
3,580
(15,634)

  
1,547,383
1,528,169


Page 1

 
UNION STREET INVESTMENTS LTD
REGISTERED NUMBER: SC353348

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2024.




D.J. Souter
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
UNION STREET INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Union Street Investments Ltd is a private company, limited by shares, domiciled in Scotland with registration number SC353348.  The registered office is Whitehall House, 33 Yeaman Shore, Dundee DD1 4BJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

During the comparative year the business was in receipt of the following revenue grants in relation to the COVID-19 pandemic:
Bounce Back Loan Scheme (BBLS) relief on interest recognised when received.

Page 3

 
UNION STREET INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Government grants

IIncluded within other income are revenue grants relating to the following Government schemes:


2023
2022
£
£



BBLS
-
208

-
208

Page 4

 
UNION STREET INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
1,860,000



At 30 June 2023
1,860,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.





6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
1,257,053
1,257,053

1,257,053
1,257,053

Due within one year

Trade debtors
115,689
112,631

Other debtors
124,939
148,099

1,497,681
1,517,783



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,863
8,834

Trade creditors
305,694
340,280

Other taxation and social security
1,281
-

Other creditors
108,793
142,196

Accruals and deferred income
18,417
2,242

443,048
493,552


Page 5

 
UNION STREET INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
40,659
41,813

Other loans
1,011,476
1,011,476

1,052,135
1,053,289


The company has granted a registered Standard Security over all the property owned by the company, as situated at 84 to 100 Union Street, Glasgow, to the core investors for sums due and sums yet to be realised.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable by instalments
2,908
4,183

2,908
4,183

Included in amounts due in greater than five years relates to a Bounce Back Loan at an interest rate of 2.5%.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3 Ordinary shares of £1 each
3
3



Page 6